Why SIC and NAICS Codes Are Important
Like the D-U-N-S Number, both SIC and NAICs allow a standardized and meaningful way to identify company business types. Companies who engage in business with the U.S. Securities and Exchange Commission (SEC) would rely on the SEC-standard usage of SIC. Companies engaged in business with partners and clients throughout North America could better collaborate with those partners by using the NAICS. In addition, NAICS is designed to be largely compatible with the United Nations ISIC classification system and is suitable for companies who do business internationally and require a method to categorize beyond North America.
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